Loading...

Sanbase

SEHK:8501
Snowflake Description

Excellent balance sheet and good value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
8501
SEHK
HK$216M
Market Cap
  1. Home
  2. HK
  3. Capital Goods
Company description

Sanbase Corporation Limited, an investment holding company, engages in the provision of interior fit-out management and solutions in Hong Kong and the People’s Republic of China. The last earnings update was 26 days ago. More info.


Add to Portfolio Compare Print
8501 Share Price and Events
7 Day Returns
-1.8%
SEHK:8501
-0.5%
HK Construction
-0.2%
HK Market
1 Year Returns
-18.8%
SEHK:8501
-11.4%
HK Construction
-4.5%
HK Market
8501 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Sanbase (8501) -1.8% 17.4% -20% -18.8% - -
HK Construction -0.5% -3.6% -14% -11.4% -21.9% -4.9%
HK Market -0.2% 2.7% -8.3% -4.5% 16.5% 1%
1 Year Return vs Industry and Market
  • 8501 underperformed the Construction industry which returned -11.4% over the past year.
  • 8501 underperformed the Market in Hong Kong which returned -4.5% over the past year.
Price Volatility
Industry
5yr Volatility vs Market

8501 Value

 Is Sanbase undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Sanbase to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Sanbase.

SEHK:8501 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 9%
Perpetual Growth Rate 10-Year HK Government Bond Rate 2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for SEHK:8501
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year HK Govt Bond Rate 2%
Equity Risk Premium S&P Global 6.7%
Construction Unlevered Beta Simply Wall St/ S&P Global 1.03
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.035 (1 + (1- 25%) (5.93%))
1.054
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.05
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (1.054 * 6.65%)
9.01%

Discounted Cash Flow Calculation for SEHK:8501 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Sanbase is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

SEHK:8501 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (HKD, Millions) Source Present Value
Discounted (@ 9.01%)
2020 65.23 Est @ 48.33% 59.84
2021 87.70 Est @ 34.43% 73.80
2022 109.36 Est @ 24.7% 84.42
2023 128.93 Est @ 17.89% 91.30
2024 145.85 Est @ 13.13% 94.74
2025 160.13 Est @ 9.79% 95.42
2026 172.06 Est @ 7.45% 94.05
2027 182.08 Est @ 5.82% 91.30
2028 190.59 Est @ 4.67% 87.66
2029 197.97 Est @ 3.87% 83.53
Present value of next 10 years cash flows HK$856.05
SEHK:8501 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= HK$197.97 × (1 + 2%) ÷ (9.01% – 2%)
HK$2,880.99
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= HK$2,880.99 ÷ (1 + 9.01%)10
HK$1,215.61
SEHK:8501 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= HK$856.05 + HK$1,215.61
HK$2,071.66
Equity Value per Share
(HKD)
= Total value / Shares Outstanding
= HK$2,071.66 / 200.00
HK$10.36
SEHK:8501 Discount to Share Price
Calculation Result
Value per share (HKD) From above. HK$10.36
Current discount Discount to share price of HK$1.08
= -1 x (HK$1.08 - HK$10.36) / HK$10.36
89.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Sanbase is available for.
Intrinsic value
>50%
Share price is HK$1.08 vs Future cash flow value of HK$10.36
Current Discount Checks
For Sanbase to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Sanbase's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Sanbase's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Sanbase's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Sanbase's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:8501 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in HKD HK$0.14
SEHK:8501 Share Price ** SEHK (2019-07-18) in HKD HK$1.08
Hong Kong Construction Industry PE Ratio Median Figure of 105 Publicly-Listed Construction Companies 10.19x
Hong Kong Market PE Ratio Median Figure of 1,510 Publicly-Listed Companies 10.72x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Sanbase.

SEHK:8501 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:8501 Share Price ÷ EPS (both in HKD)

= 1.08 ÷ 0.14

7.66x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Sanbase is good value based on earnings compared to the HK Construction industry average.
  • Sanbase is good value based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does Sanbase's expected growth come at a high price?
Raw Data
SEHK:8501 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 7.66x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
-4.2%per year
Hong Kong Construction Industry PEG Ratio Median Figure of 10 Publicly-Listed Construction Companies 0.56x
Hong Kong Market PEG Ratio Median Figure of 479 Publicly-Listed Companies 0.79x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Sanbase, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Sanbase's assets?
Raw Data
SEHK:8501 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in HKD HK$0.66
SEHK:8501 Share Price * SEHK (2019-07-18) in HKD HK$1.08
Hong Kong Construction Industry PB Ratio Median Figure of 136 Publicly-Listed Construction Companies 1.37x
Hong Kong Market PB Ratio Median Figure of 2,197 Publicly-Listed Companies 0.92x
SEHK:8501 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:8501 Share Price ÷ Book Value per Share (both in HKD)

= 1.08 ÷ 0.66

1.64x

* Primary Listing of Sanbase.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Sanbase is overvalued based on assets compared to the HK Construction industry average.
X
Value checks
We assess Sanbase's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Construction industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Construction industry average (and greater than 0)? (1 check)
  5. Sanbase has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

8501 Future Performance

 How is Sanbase expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Sanbase, future earnings growth has been estimated based on fundamentals.
The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-4.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Sanbase expected to grow at an attractive rate?
  • Sanbase's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2%.
Growth vs Market Checks
  • Sanbase's earnings are expected to decrease over the next 1-3 years, this is below the Hong Kong market average.
  • Unable to compare Sanbase's revenue growth to the Hong Kong market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
SEHK:8501 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:8501 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts -4.2%
Hong Kong Construction Industry Earnings Growth Rate Market Cap Weighted Average 11.9%
Hong Kong Construction Industry Revenue Growth Rate Market Cap Weighted Average 9.6%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 11.4%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 10.6%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
SEHK:8501 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in HKD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:8501 Future Estimates Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
SEHK:8501 Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2019-03-31 650 46 28
2018-12-31 479 10
2018-09-30 421 -25 8
2018-06-30 403 11
2018-03-31 376 -26 7
2017-12-31 360 16
2017-06-30 311 -3 22
2017-03-31 281 9 24

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Sanbase's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Unable to determine if Sanbase is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
SEHK:8501 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Sanbase Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:8501 Future Estimates Data
Date (Data in HKD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
SEHK:8501 Past Financials Data
Date (Data in HKD Millions) EPS *
2019-03-31 0.14
2018-12-31 0.05
2018-09-30 0.04
2018-06-30 0.07
2018-03-31 0.04
2017-12-31 0.11
2017-06-30 0.13
2017-03-31 0.16

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Sanbase will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Sanbase's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Hong Kong market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Hong Kong market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Sanbase has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

8501 Past Performance

  How has Sanbase performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Sanbase's growth in the last year to its industry (Construction).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Insufficient data to establish if Sanbase's year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare Sanbase's 1-year earnings growth to the 5-year average due to insufficient past data.
  • Sanbase's earnings growth has exceeded the HK Construction industry average in the past year (306.8% vs -13.1%).
Earnings and Revenue History
Sanbase's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Sanbase Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:8501 Past Revenue, Cash Flow and Net Income Data
Date (Data in HKD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 650.46 28.12 26.43
2018-12-31 479.27 10.05 19.75
2018-09-30 420.76 8.26 19.19
2018-06-30 402.59 11.48 15.51
2018-03-31 376.21 6.91 12.36
2017-12-31 360.39 15.84 11.94
2017-06-30 311.26 22.09 6.08
2017-03-31 280.67 24.10 7.05
2016-03-31 231.12 18.60 7.40

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Sanbase has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Sanbase used its assets more efficiently than the HK Construction industry average last year based on Return on Assets.
  • Sanbase's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Sanbase's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Construction industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Sanbase has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

8501 Health

 How is Sanbase's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Sanbase's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Sanbase is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Sanbase's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Sanbase's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 28.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Sanbase Company Filings, last reported 3 months ago.

SEHK:8501 Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 136.80 12.80 117.65
2018-12-31 119.56 0.00 90.06
2018-09-30 119.56 0.00 90.06
2018-06-30 111.85 0.00 68.62
2018-03-31 111.85 0.00 68.62
2017-12-31
2017-06-30 35.48 0.00 18.27
2017-03-31 35.15 0.00 20.90
2016-03-31 32.06 0.00 17.95
  • Sanbase's level of debt (9.4%) compared to net worth is satisfactory (less than 40%).
  • Unable to establish if Sanbase's debt level has increased without past 5-year debt data.
  • Debt is well covered by operating cash flow (357.1%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 129.9x coverage).
X
Financial health checks
We assess Sanbase's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Sanbase has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

8501 Dividends

 What is Sanbase's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.87%
Current annual income from Sanbase dividends.
If you bought HK$2,000 of Sanbase shares you are expected to receive HK$57 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Sanbase's pays a higher dividend yield than the bottom 25% of dividend payers in Hong Kong (2.09%).
  • Sanbase's dividend is below the markets top 25% of dividend payers in Hong Kong (5.74%).
Upcoming dividend payment

Purchase Sanbase before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
SEHK:8501 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
Hong Kong Construction Industry Average Dividend Yield Market Cap Weighted Average of 43 Stocks 3.9%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 978 Stocks 3.6%
Hong Kong Minimum Threshold Dividend Yield 10th Percentile 1.2%
Hong Kong Bottom 25% Dividend Yield 25th Percentile 2.1%
Hong Kong Top 25% Dividend Yield 75th Percentile 5.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

SEHK:8501 Future Dividends Estimate Data
Date (Data in HK$) Dividend per Share (annual) Avg. No. Analysts
SEHK:8501 Past Annualized Dividends Data
Date (Data in HK$) Dividend per share (annual) Avg. Yield (%)
2019-06-24 0.031 2.808
2019-06-20 0.031 2.896
2018-06-25 0.024 1.858

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • It is too early to tell whether Sanbase has stable dividend payments.
  • Sanbase only just started paying a dividend, it is too early to tell if payments are increasing.
Current Payout to shareholders
What portion of Sanbase's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (4.5x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Sanbase's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.2%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Sanbase afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Sanbase has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

8501 Management

 What is the CEO of Sanbase's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Sai Wong
COMPENSATION HK$3,181,000
AGE 44
CEO Bio

Mr. WONG Sai Chuen is the chairman, Compliance officer, chief executive officer and an executive Director of Sanbase Corporation Limited. Mr. Wong is responsible for the strategic planning, business development, daily operations and major decision making of Sanbase Corporation Limited. Mr. Wong has over eight years of experience in the interior fit- out industry. Before establishing Sanbase Corporation Limited. Mr. Wong worked as a project director of Arcon System Limited (“Arcon”), an audio-visual solutions company from January 2002 to February 2009. Mr. Wong was primarily responsible for development and implementation of audio-visual solutions projects. From June 2007 to June 2010, Mr. Wong was a director of Arcon Contracting Limited, a company incorporated in Hong Kong and dissolved in June 2010 due to cessation of business. Prior to the dissolution, the principal business activities of Arcon Contracting Limited was installation of audio and visual system. Mr. Wong attended Yu Chun Keung Memorial College No. 2 from 1987 to 1992. Mr. Wong is not and has not been a director of any other listed company in Hong Kong and overseas in the past three years.

CEO Compensation
  • Sai's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Sai's remuneration is higher than average for companies of similar size in Hong Kong.
Management Team

Sai Wong

TITLE
Chairman
COMPENSATION
HK$3M
AGE
44

Kin Wong

TITLE
COO & Executive Director
COMPENSATION
HK$3M
AGE
42

Maggie Hui

TITLE
Executive Director
COMPENSATION
HK$2M
AGE
42

Tsz Li

TITLE
Senior Finance Manager & Company secretary
AGE
36
TENURE
2.3 yrs
Board of Directors Tenure

Average tenure and age of the Sanbase board of directors in years:

1.8
Average Tenure
42
Average Age
  • The average tenure for the Sanbase board of directors is less than 3 years, this suggests a new board.
Board of Directors

Sai Wong

TITLE
Chairman
COMPENSATION
HK$3M
AGE
44

Kin Wong

TITLE
COO & Executive Director
COMPENSATION
HK$3M
AGE
42
TENURE
2.3 yrs

Maggie Hui

TITLE
Executive Director
COMPENSATION
HK$2M
AGE
42
TENURE
2 yrs

Andrew Fan

TITLE
Independent non-executive Director
COMPENSATION
HK$240K
AGE
40
TENURE
1.6 yrs

Keith Wu

TITLE
Independent Non-Executive Director
COMPENSATION
HK$240K
AGE
44
TENURE
1.6 yrs

Benny Pang

TITLE
Independent non-executive Director
COMPENSATION
HK$240K
AGE
46
TENURE
1.6 yrs

Barry Cheung

TITLE
Non-Executive Director
COMPENSATION
HK$352K
AGE
40
TENURE
2 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (HK$) Value (HK$)
X
Management checks
We assess Sanbase's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Sanbase has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

8501 News

Simply Wall St News

Brief Commentary On Sanbase Corporation Limited's (HKG:8501) Fundamentals

For those interested in understanding where the figures come from and want to see the analysis, take a look at the report on Sanbase here. … 8501 appears to have made good use of debt, producing operating cash levels of 3.57x total debt in the prior year. … 8501's shares are now trading at a price below its true value based on its discounted cash flows, indicating a relatively pessimistic market sentiment.

Simply Wall St -

Sanbase (HKG:8501) Has A Rock Solid Balance Sheet

Debt assists a business until the business has trouble paying it off, either with new capital or with free cash flow. … SEHK:8501 Historical Debt, July 4th 2019 A Look At Sanbase's Liabilities The latest balance sheet data shows that Sanbase had liabilities of HK$245.2m due within a year, and liabilities of HK$66.0k falling due after that. … While Sanbase has net cash on its balance sheet, it's still worth taking a look at its ability to convert earnings before interest and tax (EBIT) to free cash flow, to help us understand how quickly it is building (or eroding) that cash balance.

Simply Wall St -

Don’t Buy Sanbase Corporation Limited (HKG:8501) Until You Understand Its ROCE

Specifically, we're going to calculate its Return On Capital Employed (ROCE), in the hopes of getting some insight into the business. … Return On Capital Employed (ROCE): What is it? … The formula for calculating the return on capital employed is: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Sanbase: 0.16 = HK$19m ÷ (HK$247m - HK$127m) (Based on the trailing twelve months to December 2018.) Therefore, Sanbase has an ROCE of 16%.

Simply Wall St -

Did Changing Sentiment Drive Sanbase's (HKG:8501) Share Price Down By 24%?

For example, the Sanbase Corporation Limited (HKG:8501) share price is down 24% in the last year. … By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time. … The share price fall of 24% isn't as bad as the reduction in earnings per share.

Simply Wall St -

Sanbase Corporation Limited (HKG:8501) Has A ROE Of 9.3%

Our data shows Sanbase has a return on equity of 9.3% for the last year. … That means that for every HK$1 worth of shareholders' equity, it generated HK$0.093 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Despite Its High P/E Ratio, Is Sanbase Corporation Limited (HKG:8501) Still Undervalued?

This article is written for those who want to get better at using price to earnings ratios (P/E ratios). … We'll look at Sanbase Corporation Limited's (HKG:8501) P/E ratio and reflect on what it tells us about the company's share price. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

Investors Who Bought Sanbase Shares A Year Ago Are Now Down 11%

Sanbase Corporation Limited (HKG:8501) shareholders should be happy to see the share price up 16% in the last month. … One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). … The share price fall of 11% isn't as bad as the reduction in earnings per share.

Simply Wall St -

Sanbase Corporation Limited (HKG:8501) Earns A Nice Return On Capital Employed

In particular, we'll consider its Return On Capital Employed (ROCE), as that can give us insight into how profitably the company is able to employ capital in its business. … What is Return On Capital Employed (ROCE)? … ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business.

Simply Wall St -

How Financially Strong Is Sanbase Corporation Limited (HKG:8501)?

However, it also faces higher cost of capital given interest cost is generally lower than equity. … Is 8501 growing fast enough to value financial flexibility over lower cost of capital … There are well-known benefits of including debt in capital structure, primarily a lower cost of capital.

Simply Wall St -

Zooming in on HKG:8501's 1.6% Dividend Yield

Does Sanbase tick all the boxes of a great dividend stock? … 5 questions to ask before buying a dividend stock … If you are a dividend investor, you should always assess these five key metrics:

Simply Wall St -

8501 Company Info

Description

Sanbase Corporation Limited, an investment holding company, engages in the provision of interior fit-out management and solutions in Hong Kong and the People’s Republic of China. It undertakes bare shell fit-out, restacking, reinstatement, design, churn works, and maintenance and other services. The company was founded in 2009 and is headquartered in Central, Hong Kong. Sanbase Corporation Limited is a subsidiary of Madison Square International Investment Limited.

Details
Name: Sanbase Corporation Limited
8501
Exchange: SEHK
Founded: 2009
HK$216,000,000
200,000,000
Website: http://www.sanbase.com.hk
Address: Sanbase Corporation Limited
Loon Kee Building,
16th Floor,
Central,
Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 8501 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 04. Jan 2018
Number of employees
Current staff
Staff numbers
80
Sanbase employees.
Industry
Construction and Engineering
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/19 13:12
End of day share price update: 2019/07/18 00:00
Last estimates confirmation: 2018/06/25
Last earnings filing: 2019/06/23
Last earnings reported: 2019/03/31
Last annual earnings reported: 2019/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.